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Jan 22, 2013
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melissa: why are you so positive on atlanta? >> well, atlanta i would say has had a very long housing recession. it has been a little bit of a sleeper in terms of hard hit markets. typically we talk about vegas, phoenix, miami, stockton, california, but atlanta has had a very long and hard housing recession. if you look to prices at historical levels in terms of incomes and rents atlanta is looking pretty good. i think atlanta had a lot of bank failures in the state of georgia and they have a lot of foreclosures but steams investor activity is moving out of phoenix and vegas and moving to atlanta. melissa: thanks for coming on. we appreciate your time. good stuff. >> thanks for having me, melissa. melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i did
melissa: why are you so positive on atlanta? >> well, atlanta i would say has had a very long housing recession. it has been a little bit of a sleeper in terms of hard hit markets. typically we talk about vegas, phoenix, miami, stockton, california, but atlanta has had a very long and hard housing recession. if you look to prices at historical levels in terms of incomes and rents atlanta is looking pretty good. i think atlanta had a lot of bank failures in the state of georgia and they...
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Jan 22, 2013
01/13
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the falcons, the city of atlanta has never had anything going but the falcons. there were this close. melissa: the real house was of atlanta. >> that's another reason. melissa: did on the football. come on. all right. next upon president obama was publicly sworn in today. vice-president biden may not be buying it. take a listen to this. >> i'm proud. [laughter] melissa: i love it when the guy from the back. hey, listen. i think it's fantastic. joe biden. >> i loved him. because of this see is -- the as a massive size issue that he puts it is not all the time. can you imagine him as president? superb. for every lategh
the falcons, the city of atlanta has never had anything going but the falcons. there were this close. melissa: the real house was of atlanta. >> that's another reason. melissa: did on the football. come on. all right. next upon president obama was publicly sworn in today. vice-president biden may not be buying it. take a listen to this. >> i'm proud. [laughter] melissa: i love it when the guy from the back. hey, listen. i think it's fantastic. joe biden. >> i loved him....
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Jan 22, 2013
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atlanta, chicago, cincinnati. but i'll tell you something, zillow is saying nearly 90% of the these markets have bottomed out. they're in appreciation mode. the prices are ticking up. this comes on the heels of the nar saying that annualized existing home sales are up 9% versus 2011. ashley: looks like a relative recognize between the west and the east. the west got hammered in the housing collapse. >> that's a great point. >> the prices in phoenix, there are complete condo complexes that are ghost towns right now. to see prices come back are great but what are you pitting those numbers against because the bar is low? >> that's right. that is 6%, nearly 6% means, really at a bottom. ashley: yeah. >> so what the housing forecasters are saying you know what? expect 3:00% annual price appreciation average nationwide. that is about the 1990s levels that's what we saw. we still have 10.4 million mortgages in negative equity. meaning they're underwater. the mortgage is worth more than the house. you know what? hear is t
atlanta, chicago, cincinnati. but i'll tell you something, zillow is saying nearly 90% of the these markets have bottomed out. they're in appreciation mode. the prices are ticking up. this comes on the heels of the nar saying that annualized existing home sales are up 9% versus 2011. ashley: looks like a relative recognize between the west and the east. the west got hammered in the housing collapse. >> that's a great point. >> the prices in phoenix, there are complete condo...
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Jan 22, 2013
01/13
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you will see, you know, some bottoming out of during an atlanta and chicago. cincinnati and milwaukee, they are waiting until next year for home prices to bottom out. i know that the viewers are always wondered what is going on in my area. the federal reserve really relies on this. they are also saying that the housing bottom occurred in the fourth quarter of 2011. when you think about it, we still have the 10.7 billion target is underwater. the house prices are worth less than the mortgage. that is a problem. housing is on the bed and maybe a housing bubble. it looks like we are in recovery. watch out and expect moderate growth. what they are talking about is we hit a trough and we are bouncing up. expect 3% growth. that is the news. connell: that is good. well done. dagen: thank you. elizabeth macdonald. we just got earlier this morning existing home sales. they were down slightly in december. down about 1%. that is still the second highest rate since november 2009. for more on this, let's bring in ed pinto. not bad. it was a little disappointing. if you loo
you will see, you know, some bottoming out of during an atlanta and chicago. cincinnati and milwaukee, they are waiting until next year for home prices to bottom out. i know that the viewers are always wondered what is going on in my area. the federal reserve really relies on this. they are also saying that the housing bottom occurred in the fourth quarter of 2011. when you think about it, we still have the 10.7 billion target is underwater. the house prices are worth less than the mortgage....
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Jan 22, 2013
01/13
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now you've got a house that's in atlanta. >> yes. stuart: give me the specs on this thing. we will look at it on the screen. >> this house is a five bedroom five bath 3500 square foot on almost a quarter of an acre. so this is a big house on a big lot. stuart: what? wait a minute. a quarter of an acre is a big lot? david: for somebody who has a thousand acres in new york, i mean, yes. [laughter] stuart: back in 05, this place sold for? >> $600,000. stuart: and it just sold for? >> 389. that's $109 a square foot. stuart: okay. next case, santa barbara. let's show the house. describe the specs, please. >> sure. this house is actually a three bedroom, three bath 2500 square foot home built in 2006. stuart: okay and it just sold for? >> $899,000. stuart: that's the first time it's been on the market? >> yes. this is the first time it's been on the market. the first owner. it sold for 352 a square foot. so you can kind of see market per market we're going up a little bit. stuart: yes we are. 352 a square foot. it's santa barbara, location, location, location, i've got that. >> y
now you've got a house that's in atlanta. >> yes. stuart: give me the specs on this thing. we will look at it on the screen. >> this house is a five bedroom five bath 3500 square foot on almost a quarter of an acre. so this is a big house on a big lot. stuart: what? wait a minute. a quarter of an acre is a big lot? david: for somebody who has a thousand acres in new york, i mean, yes. [laughter] stuart: back in 05, this place sold for? >> $600,000. stuart: and it just sold...